PCLN, Priceline.com Inc.

$1001 is a nice price for this stock. So is the p/e but then the company grows by 25% a year so that may not be that outrageous. What is unique about this stock is that it is the only S&P stock to have traded above the $1000 mark. We would sell it, or , alternatively, maintain a very close trailing stop-loss order, simple because it is possible to count a clean 5-wave sequence up into this high. The normal range for a correction, if one occurs, would be to somewhere between $600 and $400.